Quote:
Originally Posted by PepsiFree
My only point is that you do not, actually, need that amount of money to live "comfortably" in retirement.
It's this prevalent idea of greed, and "more" that I think is a bit distressing and why people are, overall, very bad with their money. That much money ($150k-$200k, household) is enough to live comfortably with a mortgage, two car payments, and two kids, unless you have a spending problem. If you bought too big a house, or your cars are too expensive, or whatever, it's not a lot, but if you're in that situation you're not saving $4M anyways.
I struggle to understand people who think you need $150k+ for two people to get by comfortably with bare minimum expenses. What are you spending your money on? Break it down for me, and help me understand.
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My thought process is that $150k right now is a decent salary and enough to live comfortably.
I think 35 years from now when some of us gear up to retire, $150k won't be that much. 60 years from now when we are 90, $150k may not be dick all for all we know. Maybe the world economy undergoes high inflation? Climate change causes economic hardships? Who knows.
I think reigning in your spending early on to save for later on is prudent and aiming for a $150k incoming is a decent goal. I'd like to travel in retirement and golf. I don't plan on being a boring ass old guy.